$SKY
Champion Homes, Inc.

2017 Q2 Form 10-Q Financial Statement

#000119312517124764 Filed on April 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $59.50M $51.64M $47.70M
YoY Change 4.94% 8.27% 25.16%
Cost Of Revenue $52.50M $48.42M $42.89M
YoY Change 5.0% 12.9% 19.89%
Gross Profit $6.900M $3.219M $4.810M
YoY Change 4.55% -33.08% 105.73%
Gross Profit Margin 11.6% 6.23% 10.08%
Selling, General & Admin $5.800M $5.581M $5.246M
YoY Change 16.0% 6.39% 1.69%
% of Gross Profit 84.06% 173.38% 109.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $300.0K $300.0K
YoY Change -33.33% 0.0% 0.0%
% of Gross Profit 2.9% 9.32% 6.24%
Operating Expenses $5.900M $5.581M $5.246M
YoY Change 18.0% 6.39% 1.69%
Operating Profit $1.000M -$2.362M -$436.0K
YoY Change -37.5% 441.74% -84.54%
Interest Expense -$100.0K $85.00K $78.00K
YoY Change 0.0% 8.97% -15.22%
% of Operating Profit -10.0%
Other Income/Expense, Net
YoY Change
Pretax Income $2.300M -$2.447M -$514.0K
YoY Change 53.33% 376.07% -82.34%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $2.300M -$2.447M -$520.0K
YoY Change 76.92% 370.58% -82.65%
Net Earnings / Revenue 3.87% -4.74% -1.09%
Basic Earnings Per Share -$0.29 -$0.06
Diluted Earnings Per Share $258.4K -$0.29 -$0.06
COMMON SHARES
Basic Shares Outstanding 8.391M shares 8.391M shares 8.391M shares
Diluted Shares Outstanding 8.391M shares 8.391M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.40M $5.200M $6.300M
YoY Change 48.05% -17.46% 28.57%
Cash & Equivalents $81.01M $102.7M
Short-Term Investments
Other Short-Term Assets $563.0K $776.0K $424.0K
YoY Change 70.09% 83.02% -43.69%
Inventory $12.23M $13.62M $10.92M
Prepaid Expenses
Receivables $12.75M $14.86M $12.74M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $37.30M $35.17M $32.09M
YoY Change 4.14% 9.6% 4.5%
LONG-TERM ASSETS
Property, Plant & Equipment $10.98M $11.95M $11.10M
YoY Change -5.74% 7.62% -16.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.366M $7.241M $7.325M
YoY Change -1.98% -1.15% 6.28%
Total Long-Term Assets $18.34M $19.19M $18.43M
YoY Change -4.27% 4.14% -8.57%
TOTAL ASSETS
Total Short-Term Assets $37.30M $35.17M $32.09M
Total Long-Term Assets $18.34M $19.19M $18.43M
Total Assets $55.64M $54.36M $50.52M
YoY Change 1.21% 7.6% -0.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.900M $3.800M $2.400M
YoY Change 0.0% 58.33% 50.0%
Accrued Expenses $10.30M $11.30M $9.900M
YoY Change 1.98% 14.14% 11.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.39M $19.69M $14.96M
YoY Change 1.96% 31.65% 8.47%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $4.300M $4.300M
YoY Change 0.0% 0.0% -31.75%
Other Long-Term Liabilities $7.600M $7.400M $7.500M
YoY Change 1.33% -1.33% 4.17%
Total Long-Term Liabilities $11.96M $11.73M $11.78M
YoY Change 1.24% -0.43% -12.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.39M $19.69M $14.96M
Total Long-Term Liabilities $11.96M $11.73M $11.78M
Total Liabilities $30.35M $31.42M $26.74M
YoY Change 1.68% 17.51% -2.03%
SHAREHOLDERS EQUITY
Retained Earnings $85.56M $83.26M $84.23M
YoY Change 0.01% -1.15% 0.18%
Common Stock $5.483M $5.429M $5.297M
YoY Change 3.03% 2.49% 1.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $65.74M $65.74M $65.74M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 2.826M shares 2.826M shares 2.826M shares
Shareholders Equity $136.9M $22.94M $23.78M
YoY Change
Total Liabilities & Shareholders Equity $55.64M $54.36M $50.52M
YoY Change 1.21% 7.6% -0.68%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $2.300M -$2.447M -$520.0K
YoY Change 76.92% 370.58% -82.65%
Depreciation, Depletion And Amortization $200.0K $300.0K $300.0K
YoY Change -33.33% 0.0% 0.0%
Cash From Operating Activities $4.200M -$3.400M -$500.0K
YoY Change 82.61% 580.0% -64.29%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$300.0K -$100.0K
YoY Change -62.5% 200.0%
Acquisitions
YoY Change
Other Investing Activities $2.200M $0.00 $0.00
YoY Change -2300.0% -100.0%
Cash From Investing Activities $2.000M -$300.0K -$100.0K
YoY Change -350.0% 200.0% -106.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities 4.200M -3.400M -500.0K
Cash From Investing Activities 2.000M -300.0K -100.0K
Cash From Financing Activities
Net Change In Cash 6.200M -3.700M -600.0K
YoY Change 313.33% 516.67% -400.0%
FREE CASH FLOW
Cash From Operating Activities $4.200M -$3.400M -$500.0K
Capital Expenditures -$300.0K -$300.0K -$100.0K
Free Cash Flow $4.500M -$3.100M -$400.0K
YoY Change 45.16% 675.0% -71.43%

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us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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IncomeTaxExpenseBenefit
0
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IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.04
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312000
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CostOfGoodsAndServicesSold
138443000
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155123000
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IncreaseDecreaseInWorkersCompensationLiabilities
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sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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8391244 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.558 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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225000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.19
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0222 pure
us-gaap Share Based Compensation
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57000
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DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
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-0.29
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CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2017Q1 sky Line Of Credit Facility Covenant Expected Net Worth
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CY2017Q1 sky Line Of Credit Facility Covenant Expected Net Income Loss
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1750000
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CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
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IncomeLossFromContinuingOperations
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CY2016Q1 sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
0

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